Harrods MD Michael Ward is upbeat on the change the next few years will bring but says it will be tough for rivals without a USP as the store spends mega-money to focus on experiences, Millennials and the global shopper.

British Formula One champion Lewis Hamilton has been unveiled as the new face of all Tommy Hilfiger's menswear labels, further deepening the brand's ties to motor racing following the launch of its Mercedes deal.

Luxury fashion house Chanel has revealed a new store design following the re-opening of its Amsterdam-based store. The shop is designed by Peter Marino and references the style of the Paris apartment of Coco Chanel.

Italian high-end streetwear label GCDS is set to open its first store in London with a debut in Mayfair. The area continues to benefit from a raft of international openings, despite the tough fashion retail environment.

Chinese investor and philanthropist Wendy Yu, on behalf of her Hong Kong-based company, Yu Holdings, has created an endowment in perpetuity for the position of the Wendy Yu Curator in Charge of The Costume Institute.